Buffett’s Berkshire Hathaway cuts Apple, BofA stakes by more than 20% each in Q3

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) decreased its holdings in iPhone-maker Apple (NASDAQ:AAPL) and number two U.S. lender Bank of America (NYSE:BAC) by more than 20%, according to the sprawling conglomerate’s latest quarterly filing on Saturday.

Both moves have been well publicized, especially Buffett’s steady dumping of Bank of America (BAC) since mid-July.

The Omaha, Neb.-based giant said the fair value of its equity investment in Apple (AAPL) was worth $69.9B at the end of the third quarter, compared to $84.2B at the end of Q2.

Those numbers suggest that Berkshire’s (BRK.A)(BRK.B) position in Apple (AAPL) has been slashed to 300M shares from about 400M. That’s a reduction of nearly 25%.

Meanwhile, the fair value of the conglomerate’s equity investment in BofA (BAC) was worth $31.7B at the end of the third quarter, versus $41.1B at the end of Q2. That brings Berkshire’s (BRK.A)(BRK.B) stake in the lender to nearly 800M shares from 1.03B. That’s a decrease of around 23%.

The conglomerate’s overall cash pile jumped to a record $325.21B as of September 30, 2024, from $276.94B as of June 30, 2024.

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